Fun

House committee ranking member says a stablecoin bill could be coming soon

News Feed - 2024-04-26 01:04:40

Turner Wright7 hours agoHouse committee ranking member says a stablecoin bill could be coming soonHouse Financial Services Committee Ranking Member Maxine Waters said a stablecoin bill “in the short run” was coming amid negotiations with Republican lawmakers and the Senate.1222 Total views1 Total sharesNewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksRepresentative Maxine Waters, ranking member of the United States House Financial Services Committee, has suggested that lawmakers are making progress on passing stablecoin legislation.


In an April 24 interview with Bloomberg, Representative Waters said she had been working “very well together” with committee chair Patrick McHenry in legislation on stablecoins and clawbacks for banks and talking to lawmakers in the U.S. Senate. According to the ranking members, only a “few more tweaks” were necessary for the stablecoin bill to move forward in the House.


“It’s been very complicated,” said Representative Waters. “We have so many entities that are involved [...] everybody has had something to say. We’ve had to recognize all of those concerns. In doing that, in the final analysis, it’s about making sure that investors and that the people are protected and that we don’t have a stablecoin bill where [...] companies don’t have the assets that they say that they have.”


She added:“We’re talking with the Senate side. We’ve met with Schumer. Talked with Sherrod Brown. We’re on our way to getting a stablecoin bill in the short run.”


Senator Brown, who chairs the Senate Banking Committee, reportedly said in April he was open to passing stablecoin legislation, provided his concerns were addressed. Lawmakers in the House and Senate have proposed different legislative paths to regulate stablecoins, but any bill would need to pass through both chambers before being signed into law.


Related:Crypto advocacy group claims stablecoin bill would ‘violate free speech rights’


Representative Waters suggested in February that lawmakers were “very close” to a deal on stablecoins. On April 17, Senators Kirsten Gillibrand and Cynthia Lummis introduced a payment stablecoin bill they had been teasing for months. It’s unclear how the bill could divide support in the Senate from the efforts Representative Waters described.


In July 2023, lawmakers in the House Financial Services Committee passed the Clarity for Payment Stablecoins Act, setting the stage for a full floor vote. The legislation has not moved forward since then.


Magazine:Unstablecoins: Depegging, bank runs and other risks loom# Government# Congress# United States# Stablecoin# RegulationAdd reaction

News Feed

Bitcoin Holds Above $90K – On-Chain Data Reveals Key Demand Levels
Este artículo también está disponible en español. Bitcoin recently saw a 9% retrace from its all-time high of $99,800, narrowly missing the psychological $100K milestone.
Bitcoin price hits $70K all-time high as US jobs data squashes US dollar
William Suberg8 hours agoBitcoin price hits $70K all-time high as US jobs data squashes US dollarBitcoin bulls reassess cycle dynamics as BTC price finally cracks the key $70,000 line.11731 Total views46 Total sharesList
Bakkt to Launch Crypto ‘Consumer App’ in First Half of 2020
Bakkt plans to launch a consumer-facing app to help retail customers transact with cryptocurrencies, the company announced Monday. In a blog post, Bakkt chief product officer Mike B
Bitcoin, Ethereum Technical Analysis: ETH Rebounds on Friday, Climbing Above $1,700
Bitcoin, Ethereum Technical Analysis: ETH Rebounds on Friday, Climbing Above $1,700 Ethereum rose above $1,700, while bitcoin snapped a seven-day losing streak on Friday, with pric
Recession No More? Bond-Market Selloff Pushes Treasury Yields to Six-Week High
U.S. bond markets extended their slide on Friday, as investors continued to reevaluate the recession risk. | Image: AFP PHOTO / Stan HONDAU.S. government debt yields continued to ri
Turner Wright3 hours agoIndustry leaders and policymakers weigh in on a potential US gov’t shutdownA U.S. government shutdown is not inevitable, but even if one lasts for just hours or days, lawmakers’ priorities on
Bitcoin Demand Outweighs Supply As LTH Enter Active Distribution Phase
Este artículo también está disponible en español. Bitcoin (BTC) has held steady above the $88,000 mark over the past few days, showcasing resilience as the broader market
Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming TGE
Taraxa Wants to Put Every Informal Transaction on the Record, Unveils Details About the Upcoming TGE press release PRESS RELEASE. The Taraxa Foundation, a non-pro
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’ Internet users in Russia have been targeted in an email campaign advertising the launch of an al
‘Help Ukraine’ Scams Appear as Country Seeks Crypto Donations, Report Reveals
‘Help Ukraine’ Scams Appear as Country Seeks Crypto Donations, Report Reveals Scams have started exploiting the desire of many in the crypto community to support Ukraine’
Crypto Market Is ‘Development Vector’ of Nation’s Digital Economy, Ukraine President Says
Crypto Market Is ‘Development Vector’ of Nation’s Digital Economy, Ukraine President Says President of Ukraine Volodymyr Zelensky has highlighted the importance of launching
Miner profitability falls to record lows — Blocksbridge
Vince Quill6 hours agoMiner profitability falls to record lows — BlocksbridgeReduced block rewards post-halving and Bitcoin mining difficulty reaching new heights are eating away at miner revenues.1006 Total views2 Tot